Categorizing your short-term rental, what kind of an owner are you and what kind of a rental audience are you attracting? Make sure to properly match your home with unique characteristics to add visibility. For instance, is your property: remote, luxury, themed, an outdoor experience, farm, does it have water features or views? Create an experience with your property, make it stand out! 

Jessica breaks down what you might want to include based on your target guests, put yourself in the guests’ shoes. Make sure you have the proper items available based on that "guest avatar". 

We answer a question from the audience. What do you do with your property during the off-season? Can you capture an alternative activity crowd? Sledding, snowshoeing, hunting, skiing. Test a season for demand, experiment with pricing discounts, or consider winterizing your property to save expenses.

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In part II of our series on short-term investment properties we discuss the costs to factor in before deciding on an investment property. Your first step is to talk with your lender to determine rates on a non-owner occupied property. Calculate your expenses, including the following: principal payment, insurance (include your furnishings), taxes, property management, improvement costs (+ furnishings), maintenance (1-2.5% income annually), utilities, internet/cable, cleaning fees, lawn care, pool/hot tub upkeep, snow removal, and booking service fees. Matt works up a hypothetical example and how the numbers pan out. Jessica talks to us about remodeling and furnishing your property including why you might want to tailor to your target guests.

Follow us on the socials by searching the tag @EvoReal or visit us online at www.EvoReal.com

Matt and Jessica discuss the steps and the journey of investing in a nightly rental property. What are your goals with your property? Discover the top markets, review the rental demand vs price of the property, Vacasa is a great start. Consider the location, how easy is it to manage? How hands-on (or off) do you want to be, and will you be enjoying the property as well? Create a pros and cons list of your chosen areas factor in seasonality, what is the draw of the area, is there an off-season? Discuss the metro markets that feed into your immediate area (day trippers), look at zoning and regulations, create a spreadsheet and review expected income each month (peak events/holidays/draw), reach out to other hosts and see what kind of information you can get on their experience including peaks and valleys in rental frequency. Calculate your expenditures include utilities, wear and tear, maintenance costs, etc…

Review top markets for vacation homes: https://www.vacasa.com/top-markets

Review past data rental data: https://www.airdna.co/

When history visits your town take advantage of it, Best of Broadway returns to Spokane. We recommend the intimate experience at the Bing Crosby and Fox theaters downtown. Matt talks about the shifting real estate market, is it really cooling off? Inventory is triple that of May but still under a month of supply, multiple offers and a frenzy of showings are no longer the status quo, price drops are becoming increasingly common. Will the market continue this trajectory?

Check out the Best of Broadway schedule and get your tickets- https://www.broadwayspokane.com/ 

Follow us on the socials by searching the tag @EvoReal or visit us online at www.EvoReal.com

Matt talks a bit about rock mason homes and structures in and around Spokane, the duo discusses their newest venture, a vacation rental property in Leavenworth, WA. Here are the questions asked they asked before choosing a property: 1. What is the draw for visiting the area? 2. What are the hot seasons? (and shoulder seasons) 3. What metro markets are feeding the area? (how large) 4. What’s the purpose, is the income from renting critical? (will you use it) 5. What is the cost to rent ratio, how do amenities factor into rent rolls? We recommend building a pros and cons list and cross comparing different markets before making a decision on a vacation rental property. More tips tricks and stories to follow.

Rent our Airbnb vacation rental in Leavenworth- www.IcicleVillageRetreat.com

Follow us on the socials by searching the tag @EvoReal or visit us online at www.EvoReal.com

The show kicks off with a featured listing at 113 W Glass Ave **now pending in the Garland District. If you haven’t yet, go check out the Garland District! Historic buildings to note- The Garland Theater, Mary Lou’s Milk Bottle, and the Masonic Temple now home to the North Hill Gastropub. Quiz time! Jessica grills Matt on the top 15 things to do when visiting Spokane. Does Trip Advisor stack up against a real local Spokanite? Yes and No, what didn’t make the list? Visiting the Pavilion at Riverfront Park, Davenport Historic Collection (especially during Christmas), Fergusons & Milk Bottle on Garland, Indian Painted Rocks/Spokane house, Arbor Crest Winery, and the Cliff Park overlook. Things to do in October, pick fruit and pumpkins at Green Bluff, tour trees in fall by swinging through Riverfront Park, Finch Arboretum, Audubon Park, and beyond. In the mood for winter sports? Check out the Banff film festival showing at the Bing Theater on October 1st.

Looking for some fall things to do check out https://www.visitspokane.com/things-to-do/seasonal/fall/

Check out Spokane events calendar- https://my.spokanecity.org/riverfrontspokane/calendar/

The duo springs a leak, Restoration 1 bails them out. Jessica talks about Kirtland Cutter and his impact on architecture in Spokane, his designs are icons and a few notable buildings including; The Davenport Hotel, Patsy Clark Mansion, Glover Mansion, The Spokane Club, and even elements of the Monroe St Bridge. We discuss out-of-the-box home construction featuring Barndominiums, Shouses, and Conthouses (ok we made that up shipping container homes). Banks get creative financing alternative structures, a shout out to Dustin Masterson with Numerica Credit Union.

Helpful resources:

Kirtland Cutter homes & history- https://en.wikipedia.org/wiki/Kirtland_Cutter

Barndominum kits and ideas- https://www.worldwidesteelbuildings.com/steel-buildings/barndominiums/

Shipping container homes- https://archive.curbed.com/2020/4/10/21165288/shipping-container-house-build-cost

Clickbait Alert! “Spokane among the most overvalued market in the nation”, does the article hold up? Based on the data we tend to disagree. COVID has unlocked migration mania, middle-market towns have experienced extreme growth, demand for housing continues strong, climate events are pushing people to make a move, housing supply issues continue across markets and workforce shortages remain, competing markets are also seeing increases in prices. Affordability drops for Spokane natives but compared to our neighboring markets not nearly at the same rate. Is it worth purchasing a home right now? It really depends on your situation give us a call at 509-62-HOUSE to learn more.

Helpful Links from this episode:

https://www.nytimes.com/2021/07/13/opinion/covid-housing-phoenix-austin.html

https://www.nytimes.com/2021/08/31/opinion/when-climate-change-comes-to-your-doorstep.html?referringSource=articleShare

https://www.nahb.org/news-and-economics/housing-economics/indices/housing-opportunity-index

https://www.spokesman.com/stories/2021/sep/05/spokane-among-most-overvalued-real-estate-markets-/?fbclid=IwAR2MZahFNpXGKihviK4dz1qKmPFupEIKrg7eyExV0mxPPjMZGt4eutfVBuo

Summer is ending, can you believe it? Jessica’s family comes to visit from Italy, the dynamic duo breaks down their favorite places to grab a bite with the fam. To name a few; Bennidito's on the South Hill, Madeline’s Cafe Downtown, Twigs, Ben and Jerry’s Ice Cream, Gander and Ryegrass, Trailbreaker Cidery, The Davenport and Iron Goat (That Banh Mi Pizza Though!). Spokane Market Update! Median sales price nears 400k, average sales price breaks 400k, supply has been consistently low driving demand however supply is starting to increase. Is the market leveling? Tips given the market changes; Sellers: We recommend pricing your home aggressively. Buyers: Get back on the search, be present and ready as we see more price drops. Jessica finishes off her design series on a bedroom remodel; add rugs to warm up a space, get a bed that is a reasonable size for your space (with nightstands), avoid clutter, reduce space with a wall-mounted TV. Avoid matching all of your furniture, consider curating your pieces of furniture, mix and match items you already have in your house.

Follow us on the socials by searching the tag @EvoReal or visit us online at www.EvoReal.com

Living in Downtown Spokane? it’s a thing! The dynamic duo talks about the West end district of Spokane including our featured property: 1221 W Railroad Alley Ave, a modern rustic condo with owner-only garage parking, and a Euro-inspired courtyard. Matt talks about the lifestyle in the Downtown core. Did you know there are over 45 tasting rooms in the downtown core? Take a walk to nearby restaurants, concert venues, theatres, and historic hotels. Jessica is back discussing the important steps to redesigning a bedroom. Start with your paint, do you like light and airy or dark and dramatic? Don’t ignore your lighting (check out modern LED), fixtures (Impress with unique pieces), fans (stylish fans do exist!). When buying your fixtures and furniture consider purchasing multiple items, see what you like best and return the rest. Go outside the big box and find something unique for your art.

Check out our featured urban loft- https://evoreal3d.com/listings/1221-west-railroad-alley-spokane-wa-99201 

Follow us on the socials by searching the tag @EvoReal or visit us online at www.EvoReal.com